Need to choose a brokerage to hang your real estate license? It’s a critical choice that can easily shape your entire career. Pick the wrong brokerage and you could be among the 87% of new agents who give up their real estate dreams within five years.

So, how do you dodge that failure rate? You’ll need to ask the right questions when you interview with local real estate offices or conduct online research regarding cloud-based models. But what are the right questions? It’s not easy to know, especially is you’re a new agent.

But don’t sweat it! This article lays out exactly which brokerage interview questions you need to get answered. Stick with us to make your brokerage choice a stepping stone to success, not just another fail statistic. Here’s your handy dandy index:

• Starting Your Brokerage Search
• Your Career Advantage
• Evaluating Responses
• Choosing the Right Brokerage Checklist
• Making Your Choice
• Next Steps
• It’s a Wrap
• Join our FREE Team at eXp Realty
• Frequently Asked Questions

Starting Your Brokerage Search

Alright, you’ve snagged your real estate license. What’s the next move? Choosing the right brokerage can be a game-changer. Plus, it’s a decision that’s more complex than ever due to all the real estate industry disrupters.

There’s a lot to unpack here. Let’s kick things off by understanding the different brokerage models currently making waves.

Traditional brokerage models

Think classic franchise setup with brick-and-mortar offices where broker-owners manage recruitment. It’s the old-school way that is currently still very much in play.

Discount traditional brokerage models

Similar in vibe to traditional, but with a twist. That twist? Lower costs for clients and, yep, lower earnings for agents.

Hybrid brokerage models

These guys mix it up with physical offices and tech boosts. This model aims to lower costs through tech without ditching the office vibe completely.

Cloud-based brokerage models

The new kids on the block! These models ditch physical offices completely, cutting down middlemen and overhead. They’re all about using tech to streamline operations and empower agents like you to lead the way in recruitment.

Each model has its perks, depending on what you’re looking for. The brokerage model you choose will shape your career path. Let’s make sure it’s a shape you like!

Your Career Advantage

Before we get into the brokerage interview questions, there’s something else you should know. That is, interviewing for a real estate agent position is not like interviewing for most other jobs.

Why? Because you’re a revenue generator for any brokerage through your hard-earned commissions and the fees you pay to your brokerage. Additionally, most of your business expenses come out of your pocket, not your brokerages. So, unlike other jobs, real estate brokerages incur minimal costs when they bring you on board.

But here’s the twist: if you’re a new agent, the time invested in training you and meeting your day-to-day questions is huge. If a brokerage isn’t hiring, or if they pass on offering you a position, it’s likely due to a lack of structured training or adequate staff to support your growth.

This happens more commonly in franchise brokerages or smaller outfits. That’s because even if t the responsibility for answering your day-to-day questions often falls on just one person – the broker-owner of the franchise office. Hiring you depends on that broker’s time availability.

On the flip side, this time for new agents problem is better with some cloud-based brokerages. These modern setups often have dedicated staff ready to support new agents.

Additionally, at a cloud-based brokerage, the hiring process can be remarkably streamlined. Sometimes you can join the brokerage through just a simple online application, bypassing traditional interviews altogether.

This makes it easier and faster to kickstart your real estate career. But, before you hit the join button, be sure to get the brokerage interview questions answered.

Evaluating Responses

Last, before we get to the brokerage interview questions, let’s talk about how to really listen to the answers you’ll get. It’s not just the content of the answers that matters, but also how they’re delivered.

Genuine enthusiasm and openness in their responses can reveal a lot about the brokerage’s stability and their commitment to supporting your career. On the other hand, evasiveness or lack of detail can be significant red flags, signaling that the brokerage might not be the best fit for your ambitions.

So listen carefully – it’s about finding a supportive environment where you can thrive, not just a place to work.

Choosing the Right Brokerage Checklist

Alright, let’s get to those brokerage interview questions. Whether you’re sitting down face-to-face in a traditional brokerage office or filling out forms online for a cloud-based firm, you’ll want these answers.

Commission Splits

Commission splits vary widely across brokerages and they are likely to be the number one anchor to your earnings happiness. If you don’t understand all the ins and outs of commissions, check out our blog article “Best Real Estate Companies to Work For – By Commission Splits” on SmartAgentAlliance.com.

Key Questions to Ask:

1. What commission split is offered by the brokerage?
2. Does the commission split improve after reaching certain milestones?
3. What specific sales targets or other requirements must I meet to qualify for a better split?

Fees

Time for the nitty-gritty of brokerage fees, which can significantly impact your take-home pay.

Key Questions to Ask:

1. What are all the fees I’ll need to pay? Find out every fee you’ll encounter, including royalty fees, transaction fees, desk fees, and Errors & Omissions Insurance and more.
2. When are these fees due? Are they payable upfront or are they deducted as you close each deal? Are the fees due monthly or annually?
3. Are there any fee caps? For example, there might be a per deal fee that ceases (“caps”) once you’ve done a certain number of deals.

Training Programs

The best brokerages provide robust new agent training and also ongoing training for seasoned agents too.

Key Questions to Ask:

1. What types of training are available, and who conducts it? You want these to be led by actively producing successful agents.
2. Is the training live, on-demand, or both? You need to know how flexible the training options are to suit your changing needs.
3. What specific areas do your training programs cover? You’re looking for a variety of training from mindset and task management to modern lead generation (like social media training) and contract handling.
4. Are there any fees associated with training? Some brokerage talk about their training, but then you find out it’s done by a third party that charges thousands of dollars.

Technology

Technology in real estate is a necessity.

Key Questions to Ask:

1. What specific technology tools does the brokerage offer? Do they provide a customer relationship management (CRM) tool, individual IDX websites, tools for managing deal documents or promoting listings?
2. Are these tools included in my brokerage fees, or are there additional costs?
3. Can I access a demonstration of these technology tools before deciding?
4. How often does the brokerage unleash new technology or update it? If it’s not at least annually, their tech may already be outdated.

Day-to-Day Support

Quality support ensures you’re never alone when challenges arise, whether it’s handling transaction details, navigating client negotiations, or managing paperwork.

Key Questions to Ask:

1. What type of support is available to agents and how do I access it? Determine if support is available by phone, chat, email or just FAQs online.
2. Is support available 24/7 and who provides it? You’ll want to gauge whether support is quality, like a broker, or just random staff. And, you’ll want to know if they are available for urgent situations.
3. How many staff members are dedicated to agent support, and what is their response time? Get an idea now if you’ll have to wait long for answers.
4. Is there a dedicated mentor or point of contact for new agents? If you’re a new agent, you’ll want this, big time!

Lead Generation

Lead generation is how you fill your pipeline of potential clients. It’s the heart of your success.

and potential sales opportunities. A supportive brokerage can significantly enhance your ability to generate leads by providing both resources for independent lead generation and direct referrals. Understanding the types of lead generation support offered by a brokerage can help you choose a firm that aligns with your business style and goals.

Key Questions to Ask:

1. Does the brokerage provide leads or referrals? If so, how many can I expect over what period? Are the leads fresh and qualified? Caution…agents often complain they were told they’d get leads but the reality is that the leads ended up being nonexistent, super rare, or of very low quality.
2. What tools and resources does the brokerage offer for generating my own leads? We aren’t talking about training here. You want to know if they provide lead generation tools like the ability to quickly and inexpensively start an ad campaign or farm a neighborhood.
3. Are there any fees associated with lead generation services? For example, sometimes agents give up a good chunk of their earned commission in exchange for the lead.

Marketing Support

Effective marketing is essential for real estate success.

Key Questions to Ask:

1. What type of marketing support does the brokerage provide? Look for support that covers a broad range of marketing strategies, including digital marketing, direct mail, and professional listing presentations.
2. Does the brokerage offer easily customizable flyers, letterhead, social media posts, listing packages, farming packages, etc.? High-quality visuals are necessary. You need to know how difficult and costly it will be for you to create them.
3. How does the brokerage support newer or less traditional marketing efforts like email campaigns and social media marketing? Determine if they offer any innovative marketing methods that are quick, easy, and inexpensive to give you a competitive edge.

Stock Rewards

Stock rewards can be a significant incentive when choosing a brokerage with listed stock.

Key Questions to Ask:

1. Does the brokerage offer stock rewards or can agents buy stock at a discount?
2. How do I earn stock awards and when do those shares vest? You’ll want to know how much extra income you can expect and when that income becomes all yours.

Agent Perks

Agent perks can significantly enhance job satisfaction and financial well-being.

Key Questions to Ask:

1. What kind of agent perks does the brokerage offer? Identify perks such as healthcare benefits, retirement plans, or passive income opportunities.
2. Can I earn recruiting income and is it willable or available after retirement? If yes, inquire about how it’s earned and how much you can earn.

Office Space

Because most real estate client business happens in homes, the necessity of office space depends greatly on how you prefer to work.

Key Questions to Ask:

1. What types of office spaces are available? For traditional brokerages, determine if you get a private office or cubicle. For cloud-based brokerages, find out if they offer office arrangements like Regus.
2. Are there additional fees for different types of office spaces? Yep, sometimes there are additional charges.

Innovation

Because the real estate industry is quickly evolving and because there’s more brokerage competition than ever before, you need a brokerage that constantly innovates to meet that challenge.

Key Questions to Ask:

1. How often does the brokerage add something innovative for agents or their clients? This needs to be several times a year!
2. What new tools and resources were introduced in the last year? Here’s how you evaluate the quality of the tools and resources.

New Agent Mentorship

Mentorship is a game-changer for new real estate agents, accelerating their path to successful deal closures.

Key Questions to Ask:

1. Does the brokerage offer structured mentorship programs for new agents? This will indicate if their mentorship program is well planned out.
2. Who are the mentors and what are their credentials? This will give you an idea of the mentorship quality.
3. How much does mentorship cost? There may be a fee or an extra deal split for the help.

Networking Opportunities

Networking with other agents opens up potential for referrals and business partnerships.

Key Questions to Ask:

1. What types of networking opportunities does the brokerage provide? Note if they are local, national or global opportunities.
2. Are there local meetups, regional events, and/or national conferences? The more the better for you!
3. Do the networking opportunities offer new skills training or meeting influential industry professionals? This will tell you the baseline advantage of attending any events.

Culture and Values

A brokerage’s culture will define your work environment and job satisfaction.

Key Questions to Ask:

1. How would you describe the brokerage’s culture? Try to determine if the environment is collaborative, competitive, or somewhere in between.
2. Can I speak with some current agents about their experiences here? Talking to current agents gives you a real-world perspective on the day-to-day culture and how the brokerage supports its team.
3. For cloud-based brokerages, what platforms are in place for agent interaction and community building? Knowing how you’ll communicate and collaborate with peers in a virtual environment is essential for cloud-based setups.

Brokerage Branding

Recognizable brokerage awards or a strong market presence can enhance your agent credibility making it easier to get clients. However, keep in mind that in real estate, you are really the brand.  Still, brokerage branding can help.

Key Questions to Ask:

1. What distinguishes this brokerage from others?
2. Has the brokerage received any notable awards or recognitions?

Client Perks

Offering unique client perks can set a brokerage apart and provide significant value to the clients you’ll serve. These perks can be the deciding factor for clients choosing to work with you.

Key Questions to Ask:

1. Are renovation, cleaning, or staging services offered where payment is deferred until closing?
2. Does the brokerage provide cash offers for clients not wanting to list?
3. Does the brokerage have exclusive organized off-market property listings?
4. Is there global marketing for high-end properties? Find out if those have an additional fee for you to provide.
5. Are there any other client perks? Cover all bases with that final question.

Brokerage Model Sustainability

The real estate industry is going through significant growing pains. With the rise of efficient cloud-based models and new NAR rules potentially impacting commission rates, traditional brokerages are facing heavy challenges.

However, some cloud-based models are also struggling. That’s because some of these new kids on the block haven’t yet configured agent commissions, fees, and support that will make them profitable and sustainable.

You’ll want to ensure that the brokerage you choose is not only surviving but thriving. If your brokerage is not thriving, you’re likely to see agent commissions, fees, and support worsen. Plus, innovation will not keep pace with successful brokerages.

Key Questions to Ask:

1. Was your brokerage profitable after all expenses last year? How about the year before that?
2. If not, what strategies are in place to achieve future profitability?
3. Has your brokerage raised fees or lowered agent commission in the last 5 years?
4. If so, what were those changes?

Understanding a brokerage’s financial health will give you insight into whether the brokerage will stand the test of time.

Making Your Choice

Now, the tough part—making the decision. Don’t rush it. Reflect on how each brokerage’s offerings align with what matters most to you personally and professionally.

Is it the training, the support, the technology, the commission structure, the likely sustainability of the model, or a combination of things? Prioritizing these factors will help you make an informed choice that best supports your career goals in real estate.

Next Steps

Once you’ve made your choice, communicate it with clarity and confidence. If you’re on board, show your eagerness to start. If not, decline politely—thank them for the opportunity.

Remember, real estate is a tightly knit industry, and maintaining positive relationships is crucial, regardless of your decision. Keep those bridges intact for future opportunities.

It’s a Wrap

Picking the right brokerage is a big move. Think of it as finding a new home for your career. You want it to fit just right. You’ve got the tools and know-how to make a smart choice. Trust yourself.

Ready to get to it? Go nail that interview. Ask the tough questions because now you know what matters. Remember, it’s about finding a place where you can grow, learn, and thrive. Your future’s bright. Make this count. And hey, we’re here cheering you on every step of the way.

Join our FREE Team at eXp Realty

Join the leading force in real estate with eXp Realty – the only profitable publicly traded brokerage over the past five years and holds the prestigious title of the best brokerage to work for. The benefits of eXp Realty are unmatched and will truly exceed your expectations!

When you join us at Smart Agent Alliance, you’ll also be part of the Wolf Pack at eXp Realty.  Together we are one big team and we provide more FREE value than you’ll get anywhere else in the real estate business.

What’s included? Access our exclusive SAA Vault Assets to enhance your business efficiency, attend weekly team video calls filled with invaluable insights and top agent strategies, and receive the Social Agent Academy Program and Investor Army Courses – a combined value of over $1,500 – absolutely free. And that’s just the beginning! Explore more about our robust team benefits.

Don’t let this opportunity pass you by. Transform your real estate career, maximize your income, and secure your future. Contact us now to schedule a video consultation or email us at team@SmartAgentAlliance.com. We’re here to ensure your success.

Frequently Asked Questions